If you're not "married" to your local market here in the Inland Empire then your thought of investing in the Midwest is likely a prudent one.For $90,000 to $130,000 you can get a three bedroom home in a great neighborhood that generates double-digit cash on cash returns.When you live in an expensive market where the rents are relatively low to the purchase price, it is difficult to get attractive rates of return.  

FULL interior/ exterior digital photos taken between each tenant, and after significant renovations, painting, and repair has saved so many headaches.

I first got the erge to do this when I bought my own home and rented out a room to a friend I basically payed for utilities during the first 2 years.

I work full time and live in a duplex where almost %100 of my living costs are covered outside of student loans, utilities and food.And if I follow what you are saying; this is the only deal I have in the works right now.

Even after the eviction process is complete, you or whomever you hire to complete the eviction for you may need to utilize the services of a constable.  

I have a very successful and profitable business in student rentals and will provide the buyer with the information and guidance to make this property an ongoing financial success, including advice after the closing if wanted.Estimated Financial InformationPrice$164,000 Monthly Rent2,520 Annual Rent30,240 Utilities (water)($480)Current Taxes($2,640)Repair / Maint (7.5% rent)($2,268)Insurance($1,000)Annual Operating Income23,852 Closing Costs5,000 Mortgage (80%LTV)131,200 Total Cash Invested37,800 Monthly Mortgage Pmt @ 4.5%, 30yr($665)Annual Mortgage Pmt($7,977)Estim Net annual cash flow15,875 Cash on Cash Return42.0%Gross Rent Multiplier5.4Cap Rate (NOI / Price)14.5% So here is my question:Is is reasonable to rent student housing for 12 months a year?

When they leave we will raise rents to total $3,900 or $4,000Monthly Insurance: $194Management fees: 10%Utility costs I will have to pay per month: $391Using the bigger pockets calculator, I'm not exactly sure what to include there for vacancy rate, repairs/maintenance, and cap ex.

I was thinking of making rent all inclusive with rent, utilities, cable, internet, cleaning services and household common area shopping( toilet paper, soap etc).

So in your example, I'm going to make the following assumptions:10,000 income (was vacant for 2 months - actual rent is $1000 per month6,000 mortgage payment2,000 HOA1,000 utilities during vacancy period6,000 depreciationOn your tax return, you don't actually get to deduct the principal portion of the mortgage payment, so your loss will be something less than 5,000.  

Or I can send you to a YouTube videos were i learned hiw to access and utilize probate.